Netflix (NASDAQ:NFLX) had its price objective upped by analysts at Cowen from $485.00 to $535.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage currently has an “outperform” rating on the Internet television network’s stock. Cowen’s target price points to a potential upside of 18.37% from the stock’s current price.
Several other analysts also recently issued reports on NFLX. Sanford C. Bernstein upped their price target on Netflix from $423.00 to $487.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. Pivotal Research upped their price target on Netflix from $490.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. BMO Capital Markets reiterated a “buy” rating and set a $500.00 price target on shares of Netflix in a research note on Monday, April 27th. ValuEngine downgraded Netflix from a “buy” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Goldman Sachs Group increased their target price on Netflix from $430.00 to $490.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-seven have given a buy rating to the company. Netflix currently has a consensus rating of “Buy” and a consensus price target of $436.84.
NASDAQ NFLX traded up $4.72 on Tuesday, reaching $451.96. The stock had a trading volume of 53,890 shares, compared to its average volume of 5,411,975. The business has a 50 day moving average price of $435.75 and a 200 day moving average price of $380.25. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.69. Netflix has a 1 year low of $252.28 and a 1 year high of $474.01. The company has a market capitalization of $196.95 billion, a price-to-earnings ratio of 91.49, a P/E/G ratio of 2.30 and a beta of 0.95.
In related news, CEO Reed Hastings sold 54,369 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $438.69, for a total transaction of $23,851,136.61. Following the sale, the chief executive officer now directly owns 54,369 shares in the company, valued at approximately $23,851,136.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 3,789 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $418.64, for a total value of $1,586,226.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 182,024 shares of company stock valued at $81,700,274. 3.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaCore Capital LLC bought a new stake in Netflix during the 1st quarter worth approximately $29,000. Lucia Wealth Services LLC boosted its position in Netflix by 325.0% in the 1st quarter. Lucia Wealth Services LLC now owns 85 shares of the Internet television network’s stock valued at $32,000 after buying an additional 65 shares during the last quarter. Northern Oak Wealth Management Inc. boosted its position in Netflix by 39.7% in the 1st quarter. Northern Oak Wealth Management Inc. now owns 88 shares of the Internet television network’s stock valued at $33,000 after buying an additional 25 shares during the last quarter. Archer Investment Corp bought a new position in Netflix in the 4th quarter valued at $30,000. Finally, Shine Investment Advisory Services Inc. boosted its position in Netflix by 296.0% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 99 shares of the Internet television network’s stock valued at $37,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 82.35% of the company’s stock.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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